What is the relationship between a banker and a customer? (2024)

What is the relationship between a banker and a customer?

General Relationship: Debtor and Creditor: When a banker receives deposits from a customer, he is technically said to borrow money from the customer. So, he is acting as a debtor who is bound to return the money on demand to his creditor namely his customer.

What is the relationship between bankers and customers?

Debtor and Creditor Relationship- The relation of banker and customer is primarily that of debtor and creditor. But who is what at a particular moment depends on the balance of the account of the customer. If the account shows a credit balance, the banker will be a debtor and the customer a creditor.

What is customer relationship in banking industry?

Customer Relationship Management concept is tendency of banking sector to establish and maintain long-term relationships with customers in order to provide value for customers and banks. This concept allows bank to identify, segment, communicate and build long-term relationships with customers on individual basis.

What are the features and characteristics of a banker customer relationship?

As a customer must be an account holder, the basic relationship between banker and customer is that of DEBTOR AND CREDITOR, the banker being the debtor with regard to funds deposited with him, and being the creditor in respect of money lent by him.

Why it is important to understand the banker customer relationship in each product?

The transactional relationship between a banker and a customer depends on the activities and the services provided the customers. Bank's business depends much on the strong bondage with the customer. The most important factor in building healthy relationship between a banker and customer is trust.

What is the relationship between a banker and a customer Mcq?

The relationship between the banker and the customer is therefore that of a creditor and a debtor.

What is the relationship between a banker and a customer in case of safe deposit locker?

Ques 1: What is the relationship between bank and the locker holder? Ans: The relationship between the bank and the locker holder is that of Licensor and Licensee. Underlying facility is an agreement between the Bank (licensor) and the customer (Licensee) allowing use of the former's locker by the latter.

Who is a banker in simple words?

The banker is a person who: (1) accepts money from, and collects cheques for, his customers and places them to his credit; (2) honours cheques or orders drawn on him by his customers when presented for payment and debits his customers accordingly; and (3) keeps current accounts in his books in which the credits and ...

What are the advantages of banker customer relationship?

Relationship banking provides end-to-end support throughout each and every process. Whether you need to open a personal checking account, apply for a business loan, process your payroll on time, or protect your accounts from fraud, your bankers are always there to help you and guide you every step of the way.

What are the two conditions to be a banker customer?

Therefore, to constitute customer, the following two conditions are to be satisfied : He must open an account with the Bank to have a dealing with the Bank, The nature of such dealing must be a form of a banking transaction.

What is general relationship?

General relationship: All other relationships fall into this category; i.e., a general relationship is one in which the min-max cardinalities of a participating entity is neither (1,1) nor (0,1), as shown in Figure 4. ... Context 2.

Why is it important to have relationships with customers?

Having a strong connection based on trust and communication helps customers feel more secure and connected with a brand, and it can also lead to growing customer retention and your repeat purchase rate.

What are the rights of a banker?

However, some general rights that bankers typically have include: The right to charge interest and fees. Bankers have the right to charge interest on loans and other forms of credit, as well as fees for services such as account maintenance, wire transfers, and check processing. The right to set off customer accounts.

What is the importance of customer relationship based on quality?

Building strong customer relations will develop customer loyalty and retain valuable, long-term clients, increasing revenue from repeat purchases.

Which of the following is the most important relationship between banker and customer?

Explanation: A) Debtor and Creditor is the correct response. A banker's relationship with a customer is primarily one between a debtor and a creditor.

What is the relationship when a person has raised loan from a bank?

When bank lends money to customer then bank becomes Creditor and customer who receives money becomes Debtor. So, lending of money creates Creditor and Debtor relationship between bank and the customer. While lending home loan banks generally takes some assets or security with the banks in order to give loan.

What are the characteristics of bank?

What is the relationship between banker and customer when the customer opens deposit account?

Debtor - Creditor Relationship: On the opening of an account, the banker assumes the position of a debtor. The money deposited by the customer with the banker is in legal terms, lent by the customer to the banker, who makes use of the same according to his discretion.

What is the relationship between the bank and the customer called in case of locker operation?

Introduction: Safe deposit lockers facility is one of the ancillary services extended by bank at our branches. The locker units will be leased out to customers after obtaining adequate KYC documents. The relationship between the banker and the customer of a locker is that of lessor and lessee.

What is the relationship between bank and bailor bailee?

In the context of Law of bailment, the customer is the bailor and the bank is the bailee. The law of bailment is defined under Sec. 148 of the Indian Contract Act. The person who delivers the good is known as the bailor and the person to whom the goods are delivered is known as the bailee.

What is a role of a banker?

As a Banker your main task is to arrange loans and investments for clients. Bankers charge interest and fees for the loans and try to maximize the profit of a bank while maintaining appropriate risk levels.

What is one of the main responsibilities of a banker?

A banker's primary responsibility is aiding clients in making critical financial decisions such as saving for the future or investing in a business. If you enjoy meeting and interacting with new people daily or have a unique attraction to finance or business, banking jobs are excellent.

What does the banker do?

Primarily, bankers assist with transactions, deposits, and investments. However, depending on the type of banker, their day-to-day responsibilities will vary. There are three main types of bankers: personal bankers, commercial bankers, and investment bankers.

What are the obligations of a customer to a banker?

The customer must be honest with all information submitted to the bank. 3. The customer must learn about the risks that may result from using a product or service offered by the bank through inquiries directed to competent parties about the impacts of those risks which must be avoided whenever possible. 4.

What qualities should a banker have?